Average price for Wandervale EC in Choa Chu Kang set at $755 psf

SINGAPORE - An average price of S$755 per square foot has been set for Wandervale Executive Condominium (EC) - this year's first EC launch.

Prices will start from S$655,000 for a three-bedroom unit, from S$753,000 for a three-bedroom premium unit, and from S$896,000 for a four-bedroom unit, Sim Lian Group announced on Wednesday.

This is ahead of the balloting and booking process on March 5. The 534-unit development saw a subscription rate of approximately 1.47 times during its 11-day E-application period, which ended on Feb 28. It received a total of 783 E-applications.

Wandervale is located at Choa Chu Kang Ave 3, and is within walking distance to the Choa Chu Kang MRT station and bus interchange.

The 99-year leasehold development is scheduled to receive its Temporary Occupation Permit (TOP) by 2019. It features 130 three-bedroom units, 322 three-bedroom premium units, and 82 four-bedroom units ranging from 958 to 1,249 square feet across nine residential blocks.

Balloting and booking will occur at the showflat at Choa Chu Kang Ave 3. Successful e-applicants are required to drop their ballot tickets from 10am to 11am, to establish their queue position to book a unit.

"Members of the public without E-applications may book a unit from 4.00pm onwards, on a first-come-first-serve basis. A second-timer quota of 30 per cent of the units applies and will be lifted on April 5, 2016," said Sim Lian Group.

Listed on the Singapore Exchange (SGX) mainboard since 2000, Sim Lian Group is a property development, investment, and construction group.

It has launched 23 development projects to date, including three projects in Malaysia.

The group also has two freehold commercial properties and six investment-grade neighbourhood shopping centres in Australia.

This article was first published on March 3, 2016. Get The Business Times for more stories.